Blockchain Market Forecasts to 2030 - Global Analysis By Component (Platforms and Services), Type (Public Blockchain, Private Blockchain, Hybrid Blockchain and Consortium Blockchain), Organization Size, Application, End User and By Geography

Blockchain Market Forecasts to 2030 - Global Analysis By Component (Platforms and Services), Type (Public Blockchain, Private Blockchain, Hybrid Blockchain and Consortium Blockchain), Organization Size, Application, End User and By Geography


According to Stratistics MRC, the Global Blockchain Market is accounted for $19.9 billion in 2024 and is expected to reach $391.0 billion by 2030 growing at a CAGR of 64.2% during the forecast period. Blockchain is a decentralized digital ledger technology that records transactions across multiple computers in a secure, transparent, and immutable manner. Each block contains a list of transactions and is linked to the previous block, forming a chain. This technology ensures data integrity and security, making it ideal for applications like cryptocurrencies, supply chain management, and smart contracts. This market is driven by increasing demand for transparency, security, and efficiency in data exchange and transaction processes, attracting investments from startups to major enterprises.

According to the U.S. Government Accountability Office (GAO): Blockchain-related financial products and services have grown substantially in recent years, with crypto assets reaching a peak market capitalization of nearly $3 trillion in November 2021.

Market Dynamics:

Driver:

Increasing demand for transparency and traceability

The growing need for transparency and traceability in various industries is a significant driver for the blockchain market. Blockchain technology provides an immutable and tamper-proof ledger, ensuring that all transactions are transparent and traceable. This capability is particularly valuable in supply chain management, where it helps in verifying product authenticity, reducing fraud, and ensuring compliance with regulations. As businesses and consumers increasingly prioritize transparency, the adoption of blockchain technology is expected to rise, driving market growth.

Restraint:

Cyber security risks

Despite blockchain's inherent security features, such as cryptographic hashing and decentralized consensus mechanisms, it is not immune to cyber threats. Issues like theft of private keys, 51% attacks, and vulnerabilities in smart contracts can compromise the security of blockchain networks. These risks can deter organizations from adopting blockchain technology, as they may fear potential data breaches and financial losses.

Opportunity:

Rising adoption of blockchain in financial services

Blockchain's ability to provide secure, transparent, and efficient transaction processing makes it ideal for applications such as cross-border payments, identity verification, and smart contracts. Financial institutions are increasingly exploring blockchain to enhance operational efficiency, reduce costs, and improve customer trust. As regulatory clarity improves and technological advancements continue, the adoption of blockchain in financial services is expected to accelerate, driving market growth.

Threat:

High energy consumption

High energy consumption is a significant threat to the blockchain market, particularly for networks using Proof-of-Work (PoW) consensus mechanisms. PoW requires substantial computational power, leading to high electricity usage and environmental concerns. This issue is especially prominent in cryptocurrencies like Bitcoin, which consume energy comparable to that of entire countries. The environmental impact and associated costs can hinder the adoption of blockchain technology, prompting the need for more energy-efficient consensus mechanisms.

Covid-19 Impact:

The Covid-19 pandemic had a mixed impact on the blockchain market. While it disrupted global supply chains and economic activities, it also accelerated digital transformation and the adoption of blockchain technology. The need for secure, transparent, and efficient digital solutions became more apparent, driving interest in blockchain for applications such as supply chain management, digital identity, and financial services. As a result, the pandemic highlighted blockchain's potential and spurred its adoption across various sectors.

The platforms segment is expected to be the largest during the forecast period

The platforms segment is anticipated to dominate the blockchain market due to the increasing demand for blockchain solutions like R3 Corda, Hyperledger Fabric, and Ethereum. These platforms provide the necessary infrastructure for developing and deploying blockchain applications across various industries. Their ability to offer customizable and scalable solutions makes them attractive to businesses looking to leverage blockchain technology for enhanced security, transparency, and efficiency. As more organizations adopt blockchain platforms, this segment is expected to maintain its leading position.

The hybrid blockchain segment is expected to have the highest CAGR during the forecast period

The hybrid blockchain segment is projected to experience the highest CAGR due to its ability to combine the benefits of both public and private blockchains. Hybrid blockchains offer greater flexibility, allowing organizations to control access to certain data while maintaining transparency for other information. This makes them suitable for industries like healthcare, finance, and supply chain management, where data privacy and security are critical. The growing need for versatile and secure blockchain solutions is expected to drive the rapid growth of the hybrid blockchain segment.

Region with largest share:

North America is expected to dominate the blockchain market, driven by the extensive adoption of blockchain solutions across various industries, including financial services, healthcare, and supply chain management. The presence of major technology companies and a favorable regulatory environment further support market growth. Additionally, significant investments in blockchain research and development, along with government initiatives to promote blockchain adoption, contribute to North America's leading position in the market.

Region with highest CAGR:

North America is expected to dominate the blockchain market, driven by the extensive adoption of blockchain solutions across various industries, including financial services, healthcare, and supply chain management. The presence of major technology companies and a favorable regulatory environment further support market growth. Additionally, significant investments in blockchain research and development, along with government initiatives to promote blockchain adoption, contribute to North America's leading position in the market.

Key players in the market

Some of the key players in Blockchain Market include IBM, Consensys, EvaCodes, Infuy, PixelPlex, Ripple, ScienceSoft, Block, Inc., Coinbase, Hyperlink InfoSystem, Peiko, Tezos, Applied Blockchain, Aptos Labs, Ava Labs, Binance, Chainlink Labs, EOS.IO, Hyperledger Fabric, Kraken, SoluLab and HashCash Consultants.

Key Developments:

In January 2024, Casper Labs, the enterprise blockchain software and services provider, and IBM Consulting announced they will work to help clients leverage blockchain to gain greater transparency and auditability in their AI systems. Together, Casper Labs and IBM Consulting plan to develop a new Casper Labs solution designed with blockchain and built leveraging IBM watsonx.governance that establishes an additional analytics and policy enforcement layer for governing AI training data across organizations.

In January 2023, Amazon Web Services (AWS) has partnered with Ava Labs, the company building out layer-1 blockchain Avalanche, to help scale blockchain adoption across enterprises, institutions and governments. The partnership intends to make it easier for individuals to launch and manage nodes on Avalanche while also aiming to give the network more strength and flexibility for developers.

Components Covered:
• Platforms
• Services

Types Covered:
• Public Blockchain
• Private Blockchain
• Hybrid Blockchain
• Consortium Blockchain

Organization Sizes Covered:
• Small and Medium-sized Enterprises (SMEs)
• Large Enterprise

Applications Covered:
• Supply Chain Management
• Cross-Border Payments and Settlements
• Lot Lineage/Provenance
• Trade Finance & Post-Trade Settlements
• Identity Management
• Property Ownership Management
• Energy Settlements
• Smart Contracts
• Internet of Things (IoT)
• Digital Identity
• Documentation
• Exchanges
• Payments
• Other Applications

End Users Covered:
• Banking, Financial Services, and Insurance (BFSI)
• Government
• Healthcare and Life Sciences
• Media and Entertainment
• Retail and e-Commerce
• Transportation and Logistics
• Travel and Hospitality
• Real Estate
• Energy & Utilities
• Manufacturing
• Telecom
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Blockchain Market, By Component
5.1 Introduction
5.2 Platforms
5.2.1 Application Providers
5.2.2 Middleware Providers
5.2.3 Infrastructure Providers
5.3 Services
5.3.1 Consulting Services
5.3.2 Development and Integration Services
5.3.3 Support and Maintenance Services
6 Global Blockchain Market, By Type
6.1 Introduction
6.2 Public Blockchain
6.3 Private Blockchain
6.4 Hybrid Blockchain
6.5 Consortium Blockchain
7 Global Blockchain Market, By Organization Size
7.1 Introduction
7.2 Small and Medium-sized Enterprises (SMEs)
7.3 Large Enterprises
8 Global Blockchain Market, By Application
8.1 Introduction
8.2 Supply Chain Management
8.3 Cross-Border Payments and Settlements
8.4 Lot Lineage/Provenance
8.5 Trade Finance & Post-Trade Settlements
8.6 Identity Management
8.7 Property Ownership Management
8.8 Energy Settlements
8.9 Smart Contracts
8.10 Internet of Things (IoT)
8.11 Digital Identity
8.12 Documentation
8.13 Exchanges
8.14 Payments
8.15 Other Applications
9 Global Blockchain Market, By End User
9.1 Introduction
9.2 Banking, Financial Services, and Insurance (BFSI)
9.3 Government
9.4 Healthcare and Life Sciences
9.5 Media and Entertainment
9.6 Retail and e-Commerce
9.7 Transportation and Logistics
9.8 Travel and Hospitality
9.9 Real Estate
9.10 Energy & Utilities
9.11 Manufacturing
9.12 Telecom
9.13 Other End Users
10 Global Blockchain Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 IBM
12.2 Consensys
12.3 EvaCodes
12.4 Infuy
12.5 PixelPlex
12.6 Ripple
12.7 ScienceSoft
12.8 Block, Inc.
12.9 Coinbase
12.10 Hyperlink InfoSystem
12.11 Peiko
12.12 Tezos
12.13 Applied Blockchain
12.14 Aptos Labs
12.15 Ava Labs
12.16 Binance
12.17 Chainlink Labs
12.18 EOS.IO
12.19 Hyperledger Fabric
12.20 Kraken
12.21 SoluLab
12.22 HashCash Consultants
List of Tables
Table 1 Global Blockchain Market Outlook, By Region (2022-2030) ($MN)
Table 2 Global Blockchain Market Outlook, By Component (2022-2030) ($MN)
Table 3 Global Blockchain Market Outlook, By Platforms (2022-2030) ($MN)
Table 4 Global Blockchain Market Outlook, By Application Providers (2022-2030) ($MN)
Table 5 Global Blockchain Market Outlook, By Middleware Providers (2022-2030) ($MN)
Table 6 Global Blockchain Market Outlook, By Infrastructure Providers (2022-2030) ($MN)
Table 7 Global Blockchain Market Outlook, By Services (2022-2030) ($MN)
Table 8 Global Blockchain Market Outlook, By Consulting Services (2022-2030) ($MN)
Table 9 Global Blockchain Market Outlook, By Development and Integration Services (2022-2030) ($MN)
Table 10 Global Blockchain Market Outlook, By Support and Maintenance Services (2022-2030) ($MN)
Table 11 Global Blockchain Market Outlook, By Type (2022-2030) ($MN)
Table 12 Global Blockchain Market Outlook, By Public Blockchain (2022-2030) ($MN)
Table 13 Global Blockchain Market Outlook, By Private Blockchain (2022-2030) ($MN)
Table 14 Global Blockchain Market Outlook, By Hybrid Blockchain (2022-2030) ($MN)
Table 15 Global Blockchain Market Outlook, By Consortium Blockchain (2022-2030) ($MN)
Table 16 Global Blockchain Market Outlook, By Organization Size (2022-2030) ($MN)
Table 17 Global Blockchain Market Outlook, By Small and Medium-sized Enterprises (SMEs) (2022-2030) ($MN)
Table 18 Global Blockchain Market Outlook, By Large Enterprises (2022-2030) ($MN)
Table 19 Global Blockchain Market Outlook, By Application (2022-2030) ($MN)
Table 20 Global Blockchain Market Outlook, By Supply Chain Management (2022-2030) ($MN)
Table 21 Global Blockchain Market Outlook, By Cross-Border Payments and Settlements (2022-2030) ($MN)
Table 22 Global Blockchain Market Outlook, By Lot Lineage/Provenance (2022-2030) ($MN)
Table 23 Global Blockchain Market Outlook, By Trade Finance & Post-Trade Settlements (2022-2030) ($MN)
Table 24 Global Blockchain Market Outlook, By Identity Management (2022-2030) ($MN)
Table 25 Global Blockchain Market Outlook, By Property Ownership Management (2022-2030) ($MN)
Table 26 Global Blockchain Market Outlook, By Energy Settlements (2022-2030) ($MN)
Table 27 Global Blockchain Market Outlook, By Smart Contracts (2022-2030) ($MN)
Table 28 Global Blockchain Market Outlook, By Internet of Things (IoT) (2022-2030) ($MN)
Table 29 Global Blockchain Market Outlook, By Digital Identity (2022-2030) ($MN)
Table 30 Global Blockchain Market Outlook, By Documentation (2022-2030) ($MN)
Table 31 Global Blockchain Market Outlook, By Exchanges (2022-2030) ($MN)
Table 32 Global Blockchain Market Outlook, By Payments (2022-2030) ($MN)
Table 33 Global Blockchain Market Outlook, By Other Applications (2022-2030) ($MN)
Table 34 Global Blockchain Market Outlook, By End User (2022-2030) ($MN)
Table 35 Global Blockchain Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2022-2030) ($MN)
Table 36 Global Blockchain Market Outlook, By Government (2022-2030) ($MN)
Table 37 Global Blockchain Market Outlook, By Healthcare and Life Sciences (2022-2030) ($MN)
Table 38 Global Blockchain Market Outlook, By Media and Entertainment (2022-2030) ($MN)
Table 39 Global Blockchain Market Outlook, By Retail and e-Commerce (2022-2030) ($MN)
Table 40 Global Blockchain Market Outlook, By Transportation and Logistics (2022-2030) ($MN)
Table 41 Global Blockchain Market Outlook, By Travel and Hospitality (2022-2030) ($MN)
Table 42 Global Blockchain Market Outlook, By Real Estate (2022-2030) ($MN)
Table 43 Global Blockchain Market Outlook, By Energy & Utilities (2022-2030) ($MN)
Table 44 Global Blockchain Market Outlook, By Manufacturing (2022-2030) ($MN)
Table 45 Global Blockchain Market Outlook, By Telecom (2022-2030) ($MN)
Table 46 Global Blockchain Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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